SWA chief executive David Frost said: “These figures re-emphasise how significant the Scotch whisky industry is to the Scottish and wider UK economy, adding more than £5 billion of value and supporting around 40,000 jobs.

“But it may surprise some people that Scotch whisky is now the number one contributor to the UK’s balance of trade in goods and that the trade deficit would be 11% higher without whisky exports.

“Given the scale and impact of the Scotch whisky industry, we believe the Government should re-double its efforts to support distillers.

“At home, in the short term, a further 2 per cent duty cut in next month’s Budget would be a major boost, supporting small businesses that rely on the home market and further investment in the sector.”